Abundant Produce considers retaining advisors for acquisitions in Australia
Since October 2016, Abundant Produce [ASX:ABT] has studied the Chilean seed market and recently decided to move its production from Australia to Chile, CEO Tony Crimmins said. It aims to gradually begin to produce all its types of seeds, such as cucumber and tomatoes, in Chile until to reach about 90% of its total production, he explained.
It has signed a strategic partnership with an unnamed Chilean company that will allow it to produce and export from Chile to its main international markets, such as the US, Middle East and Europe, he said.
“Chile is the best place in the world to produce seeds, and it offers cost advantages. Their geography is particularly good for horticulture and is the most stable country to do business in South America,” he noted.
by Natalia Godoy